The Culture of Continuous Learning: True Intellectual Capital

Today’s successful small business culture thrives on learning. Whether it’s happening through print, e-books or news and information sites, the overwhelming majority of small organizations regarded as “movers and shakers” in their industries are making continuous education a part of how they do business.

How does it help? The answer is simple: a learning culture makes for stronger employees who, in turn, make for a stronger organization, not only improving products and services for customers, but also creating an enormously positive work environment.

According to a study by the National Research Business Institute, roughly 23% of employees depart from their respective companies as a result of poor career development opportunities and training. That’s nearly one quarter of an internal workforce leaving to join other organizations, which turns into a significant loss in terms of talent, training capital, productivity, and recruitment expenses. However, making this kind of change at the workplace is much easier than you might imagine.

Be Your Employees’ Thought Leader

Consider the idea that you, as a small business owner, are the lead educational cultivator among your employees. As long as they are under your leadership, you possess a tremendous opportunity to assist your team in expanding their skill sets, learning new ones, and improving their overall productivity. Often, many owners fear by doing so they may be setting their staff up for higher positions at other companies. This isn’t the case, however, as the same study also showed that businesses delivering high impact learning opportunities in the office created employees who are 58% more likely to stay with their organization.

Getting it organized and implemented is a lot simpler than it sounds. A great example comes from Arnie Malham, the founder and president of a Nashville, Tennessee, advertising agency who was always in the practice of learning more about his industry. When his collection reached over 40 titles, Arnie brought his books to work for others to borrow and study, to minor success. Yet, it was his next idea that changed the agency altogether — Arnie paid his staff to read the books. By offering employees anywhere from $25 to $100 per title, not only did it pay off for the employees, but it also paid off for the agency, as each member of his team was now absorbing useful information about their industry. It was a true win-win for everyone involved and eventually turned into the Better Book Club, an organization designed for those who share Mr. Malham’s passion for creating a learning culture.

At Evolution, we unquestionably share this passion within our own office as well as with the companies in which we invest. In fact, we have built “The Evolution Bookshelf” for entrepreneurs who want to become better leaders, grow their small businesses, and truly transform their organizations. Each one of the books we have listed has helped us on our own entrepreneurial journeys and given us even more tools to work with as professionals. And if you’d like to know more about our thoughts on this important subject, check out these episodes of The Second Stage where we speak with our guests on the subject of unlocking employee potential and embracing a culture of continuous learning.